Latigo Biotherapeutics (NASDAQ:LTGO) Shares Down 4.9% – Should You Sell?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO)’s stock price was down 4.9% on Monday . The company traded as low as $21.30 and last traded at $21.44. Approximately 96,653 shares changed hands during trading, a decline of 65% from the average daily volume of 274,418 shares. The stock had previously closed at $22.55.

Analyst Ratings Changes

LTGO has been the subject of several research reports. Jefferies Financial Group began coverage on shares of Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price objective for the company. Leerink Partners began coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 target price on the stock. The Goldman Sachs Group assumed coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $73.00 price target for the company. Guggenheim assumed coverage on Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Wall Street Zen downgraded Latigo Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $52.25.

Latigo Biotherapeutics Trading Down 4.5%

Latigo Biotherapeutics (NASDAQ:LTGO) last issued its quarterly earnings data on Thursday, September 3rd. The company reported ($27.59) earnings per share for the quarter.

Insider Activity at Latigo Biotherapeutics

In other news, Director James B. Tananbaum acquired 140,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the completion of the purchase, the director directly owned 2,008,024 shares in the company, valued at approximately $36,144,432. This trade represents a 7.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Foresite Capital Management V, purchased 140,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $18.00 per share, with a total value of $2,520,000.00. Following the completion of the purchase, the insider directly owned 2,008,024 shares in the company, valued at $36,144,432. The trade was a 7.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

About Latigo Biotherapeutics

Latigo Biotherapeutics is a clinical-stage biopharmaceutical company developing non-opioid medicines for the treatment of acute and chronic pain. The company focuses on selectively targeting Nav1.8, a sodium channel involved in the transmission of pain signals, with the goal of developing therapies that may provide pain relief without the risks associated with opioid medications.

Latigo’s pipeline includes small-molecule Nav1.8 inhibitors, led by LTG-001 for acute pain and additional research programs aimed at chronic pain conditions.